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BankersOnline.com Forums Dodd-Frank Final Rules Discussions Ability to Repay/Qualified Mortgage Rule Appendix Q and the temp exemption
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#1832317 - 07/11/13 10:09 PM Appendix Q and the temp exemption
ahou Offline
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ahou
Joined: Aug 2002
Posts: 3,094
If I understand correctly, under the temporary exemption for loans elig for sale to GSEs, the bank doesn't have to follow appendix Q. I looked over the amendment issued yesterday and I see no change to this. Or did I miss something?
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Ability to Repay/Qualified Mortgage Rule
#1832525 - 07/12/13 04:50 PM Re: Appendix Q and the temp exemption ahou
Tesla Offline
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Joined: Nov 2003
Posts: 3,738
I think that statement is correct. You are following the agencies guidelines instead.
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#1832579 - 07/12/13 05:51 PM Re: Appendix Q and the temp exemption ahou
NotDoneYet Offline
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NotDoneYet
Joined: Jul 2010
Posts: 482
PA
I agree.

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#1832593 - 07/12/13 06:19 PM Re: Appendix Q and the temp exemption ahou
Jerod Moyer Offline
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Jerod Moyer
Joined: Oct 2005
Posts: 667
Sioux Falls, SD
Agreed, no Appendix Q requirement, the Agencies have their own guidelines. If you do a quick word search in the section by section analysis of the original January 2013 final rule you'll find several places indicating that fact.
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